Russ leading at 15?

[MS Sunshine]

Gutshot (http://www.gutshotwsop.co.uk/livecov.jsp) seems to have the latest news and shows 15 players left with Russ "Dutch" Boyd leading with $800K.

MS Sunshine

[Insp. Clue!So?]

No doubt he has the biggest rooting section in the history of the World Series behind him.

[Mason Malmuth]

Hi Everyone:

I strongly suspect that POKERSPOT went bankrupt, and thus Russ Boyd himself is not liable. So if he wins a lot of money, don't expect refunds.

Also, and this is pure speculation on my part, I wonder if PokerSpot paid for all their Card Player ads. If they owe money here and Boyd wins the tournament, it could be interesting to see what happens.

Best wishes,
mason

[crazy canuck]

Yes you're right Mason. He said at RGP he is not liable because it is a corporate debt. However, he also said that he will pay the victims if he wins.

[holdemguy]

While I respect your views about poker, your legal understanding in this matter is false. By your rational the crooks at enron and arthur anderson are not liable because they too went bankrupt. Fact of the matter is, is that this guy stole hundreds of thousands of dollars of players money and refused to give an honest explanation as to what was going on. At the least he should be sued. At the most he should be in jail. He is definately liable, as the ceo is responsible for the company, they don't escape liability just because they claim to have no direct stake in players funds.

[Your Mom]

Certainly it is possible for lawsuits to be followed, but Russ isn't responsible for the corportation's debts unless it is proven that he defrauded the stockholders or customers of the company. A corportation is a seperate legal entity. The whole purpose of setting up a corporation is to escape personal liability.

[holdemguy]

But in this case if you review the facts he was the sole operator. He didnt just look over the operations one hour a week. He ran the show. Including the running of 400k of players money. It's a very clear cut case. Most online poekr rooms. Especially smaller ones as poker spot was only has 1 or two main operators. To say Mr.Boyd was not aware of the funds being stolen is absurd. As ceo isnt it is job to know of what is going on with player's money.

Furthermore by your rational a drug dealer could incoperate himself so he does not go to jail. Come on lets get real here.

[Jim Easton]

But in this case if you review the facts he was the sole operator. He didnt just look over the operations one hour a week. He ran the show.

This does not matter.

One of the primary purposes of incorporating is to limit liability. It might be worth looking into whether the corporate veil could be pierced. Most one man corporations drop the ball somewhere.

Including the running of 400k of players money.

If he personally ran off with that amount of money, it might be possible to hold him liable.

Furthermore by your rational a drug dealer could incoperate himself so he does not go to jail. Come on lets get real here.

Your analogy shows you don't understand incorporation.

[Jim Easton]

I strongly suspect that POKERSPOT went bankrupt, and thus Russ Boyd himself is not liable.

His lack of personal liability isn't from BK, it is from being a corporation.

I wonder if PokerSpot paid for all their Card Player ads. If they owe money here and Boyd wins the tournament, it could be interesting to see what happens.

If the debt was discharged in BK, it won't matter. Also, if it is a PokerSpot debt, it is a corporate, and he wouldn't be personally liable. Unless Card Player made him agree to be personally liable for the debt. This is a fairly common practice.

The interesting thing with Card Player is they would have the money to try to pierce the corporate veil. Step one is finding out where he incorporated.